Category Archives: Commodity: Cocoa

In the News: Indonesia Must Lift Fermented Cocoa Output

Jakarta, Jan 22 – Indonesia, the world’s number 3 cocoa grower, must increase its output of fermented cocoa beans or else risk being uncompetitive because of the lower cost of imported cocoa powder, an industry official said on Friday.

Indonesia’s cocoa industry faces stiffer competition following the implementation of China-ASEAN free trade agreement (CA-FTA) earlier this month, said Peter Jasman, chairman of Indonesian Cocoa Industry Association which represents grinders.

As part of the free trade agreement, Indonesia must scrap its 5 percent import duty on cocoa powder, which would encourage imports from rival grinders Malaysia and Singapore at the expense of domestic grinders.

Read the full story at Flex News